Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals. It also produces indium and germanium. In addition, the company holds interest in Frontier oil sands projects in the Athabasca region of Alberta; and owns interests in exploration and development projects in Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States. The company was formerly known as Teck Cominco Limited and changed its name to Teck Resources Limited in April 2009. Teck Resources Limited was founded in 1913 and is headquartered in Vancouver, Canada.
Teck Resources Trading Up 4.8 %
Shares of NYSE:TECK traded up $1.37 during trading hours on Friday, reaching $30.12. The stock had a trading volume of 6,032,666 shares, compared to its average volume of 5,798,118. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.25. The firm has a market cap of $15.71 billion, a price-to-earnings ratio of 3.74, a P/E/G ratio of 2.14 and a beta of 1.15. The business's fifty day moving average price is $32.96 and its two-hundred day moving average price is $36.35. Teck Resources has a 52-week low of $19.32 and a 52-week high of $45.90.
Teck Resources (NYSE:TECK - Get Rating) (TSE:TECK) last posted its earnings results on Wednesday, July 27th. The basic materials company reported $3.25 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $1.24. The company had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.59 billion. Teck Resources had a return on equity of 23.73% and a net margin of 28.90%. Teck Resources's revenue was up 126.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. Analysts expect that Teck Resources will post 6.87 EPS for the current fiscal year.
Teck Resources Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.097 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.39 dividend on an annualized basis and a yield of 1.29%. Teck Resources's dividend payout ratio is currently 4.97%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Stifel Nicolaus lowered their target price on Teck Resources from C$68.00 to C$62.00 in a research report on Tuesday, July 19th. Barclays lowered their price objective on Teck Resources from C$50.00 to C$42.00 in a research report on Tuesday, July 19th. Royal Bank of Canada lowered their price objective on Teck Resources from C$67.00 to C$60.00 in a research report on Thursday, July 28th. Scotiabank lowered their price objective on Teck Resources from C$57.00 to C$54.00 in a research report on Thursday, July 28th. Finally, Clarkson Capital restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, June 14th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.13.